Wisconsin Makes Improvements to Contractors Loan Guarantee Program

WHEDA has enhanced its Contractors Loan Guarantee (CLG) program to expand business opportunities statewide.

Program enhancements include:

Streamlines application process – WHEDA will be utilizing an eligibility checklist to process applications within a one week turnaround.

Expanded eligibility – The CLG will now be open to eligible general contractors AND subcontractors to help pay expenses for working on qualified contracts.

Reduced fees – The only fee will be 3% on the guaranteed amount of the loan at closing. There will no longer be an annual servicing fee of 0.05% of the guaranteed balance on the outstanding loan principle.

The maximum guarantee is the lesser of 50% of the loan amount or $750,000. To learn more, visit https://www.wheda.com/Business-Lending/Financing-Products/